Clearbridge Investments LLC Has $20.41 Million Holdings in Portland General Electric (NYSE:POR)

Clearbridge Investments LLC trimmed its position in shares of Portland General Electric (NYSE:POR) by 1.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 471,948 shares of the utilities provider’s stock after selling 8,403 shares during the period. Clearbridge Investments LLC owned 0.46% of Portland General Electric worth $20,407,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dana Investment Advisors Inc. raised its holdings in shares of Portland General Electric by 1.6% in the 2nd quarter. Dana Investment Advisors Inc. now owns 120,518 shares of the utilities provider’s stock valued at $5,211,000 after purchasing an additional 1,883 shares during the period. Cetera Investment Advisers increased its position in Portland General Electric by 6.1% during the second quarter. Cetera Investment Advisers now owns 56,066 shares of the utilities provider’s stock worth $2,424,000 after buying an additional 3,233 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Portland General Electric in the second quarter valued at approximately $7,459,000. Quarry LP lifted its position in shares of Portland General Electric by 962.3% in the second quarter. Quarry LP now owns 1,636 shares of the utilities provider’s stock valued at $71,000 after buying an additional 1,482 shares during the last quarter. Finally, Systematic Financial Management LP boosted its stake in shares of Portland General Electric by 83.4% during the 2nd quarter. Systematic Financial Management LP now owns 424,701 shares of the utilities provider’s stock worth $18,364,000 after acquiring an additional 193,164 shares during the period.

Portland General Electric Stock Down 0.4 %

Shares of NYSE POR opened at $46.58 on Friday. The stock has a market capitalization of $4.80 billion, a P/E ratio of 17.85, a PEG ratio of 1.35 and a beta of 0.59. The stock’s fifty day moving average is $47.52 and its 200 day moving average is $44.76. Portland General Electric has a 52 week low of $39.03 and a 52 week high of $49.45. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.00.

Portland General Electric (NYSE:POR) last issued its earnings results on Friday, July 26th. The utilities provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.62 by $0.07. The company had revenue of $758.00 million during the quarter, compared to analysts’ expectations of $716.43 million. Portland General Electric had a net margin of 9.24% and a return on equity of 9.15%. The business’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 EPS. Sell-side analysts forecast that Portland General Electric will post 3.09 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 24th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, September 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.29%. Portland General Electric’s dividend payout ratio (DPR) is currently 76.63%.

Wall Street Analysts Forecast Growth

POR has been the subject of several research reports. Jefferies Financial Group started coverage on Portland General Electric in a report on Friday, September 20th. They set a “hold” rating and a $48.00 price target for the company. Barclays downgraded shares of Portland General Electric from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $48.00 to $49.00 in a report on Wednesday, September 18th. Bank of America began coverage on shares of Portland General Electric in a research report on Thursday, September 12th. They set an “underperform” rating and a $47.00 price objective for the company. StockNews.com raised Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, Evercore ISI started coverage on Portland General Electric in a report on Wednesday, September 25th. They set an “outperform” rating and a $54.00 price target for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Portland General Electric currently has an average rating of “Hold” and a consensus target price of $46.78.

Insider Buying and Selling

In other Portland General Electric news, VP John Teeruk Kochavatr sold 1,100 shares of Portland General Electric stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total value of $50,875.00. Following the transaction, the vice president now owns 22,606 shares in the company, valued at $1,045,527.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, COO Benjamin Felton sold 1,886 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $48.00, for a total value of $90,528.00. Following the completion of the transaction, the chief operating officer now directly owns 30,142 shares in the company, valued at approximately $1,446,816. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP John Teeruk Kochavatr sold 1,100 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total value of $50,875.00. Following the sale, the vice president now directly owns 22,606 shares in the company, valued at approximately $1,045,527.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,486 shares of company stock worth $262,153 in the last ninety days. 0.54% of the stock is owned by insiders.

About Portland General Electric

Portland General Electric Company, an integrated electric utility company, engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. It operates six thermal plants, three wind farms, and seven hydroelectric facilities. As of December 31, 2023, the company owned an electric transmission system consisting of 1,254 circuit miles, including 287 circuit miles of 500 kilovolt line, 413 circuit miles of 230 kilovolt line, and 554 miles of 115 kilovolt line; and served 934 thousand retail customers in 51 cities.